Bill Identity : Webinar Investor Presentation

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Q4 FY22 Investor Update

Optimatech.io

28 July 2022

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FY22 Q4 Performance highlights

Optimising cash runway while repositioning for ESG growth

Financial

$(2.4m)

$10.7m

$11.7m

51%

performance

Cash flow1

Cash on Hand

Platform ARR2

Platform GM3

$(2.8m) in Q3

$4.3m in Q3

Comprised of $0.5m

46.5% in Q3

$(3.7)m in Q2

new business, 7.9%

Note margin

churn, $0.3m FX/

$(4.9m) in Q1

includes US

Other

operations

$11.7m in Q3

Channel partner

✓ Expand existing channel partners

✓ New channel partners

focus

(Reach, relevance & global penetration)

(New products: Net Zero & EV capability)

Operational	Brand	Technology	Sales	Marketing	US
investments
				Review of US
	GTM repositioning to	Improvements and	Increased channel	Brand awareness
	operations ongoing
	serve the ESG	data capability	sales capability in	and lead generation
	and focus on
	market: Net Zero	developed for new	the UK as priority	initiatives targeted
	licensing of micro
	data solutions	segments/services		at Net Zero
		services
				reporting

Notes

1. Cash flow represents quarterly cash movement excluding net monies generated via capital raise (Q4 +$7.9m), exercise of options (Q4 nil), payments made in relation to earnout (Q4 nil), impact of one-off R&D incentives (Q4 +$0.7m) and Fx movements (Q4 +$57k)
2. Platform ARR is calculated as annualised revenue (excluding credits, adjustments) for the relevant quarterly period, excludes Rebate business and discontinued operations

3. Platform GM is calculated as actual revenue (excluding credits/adjustments) less cost of goods/services sold (excluding credits/adjustments), divided by actual revenue (excluding credits/adjustments) for the relevant quarterly period, excludes Rebate business and discontinued	2
operations

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Q4 Results update

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FY22 Q4 Cash Flow Optimisation

Operating efficiency initiatives driving significantly improved cash flow from $(4.9m) in Q1 to $(2.4m) in Q4

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Cash flow1

Q1 FY22

Q2 FY22

Q3 FY22

Q4 FY22

	$(2.4)m
$(2.8)m
$(3.7)m
	Excludes $0.7m
+$2.6m	received in
annual R&D

Q4 FY22 cash flow improved to $(2.4m), underpinned by:

• Completion of exit from ~20 unprofitable US contracts saving ~+$4m on an annualised basis
• "Right-sizing"the corp. executive & AU team, saving an additional ~+$1m (incremental to +$1m previously communicated) on an annualised basis
• Enhanced cost efficiencies, including rationalising and consolidation of vendors and continued R&D claims (note +$0.7m impact from R&D claims is not included in cash flow in the chart opposite)
• Revised billing and collection processes
• Note that normalised cash flow is in part influenced by seasonality of upfront customer receipts.

Despite the significant reduction in cash burn over Q4, we have

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$(4.9)m

tax incentive

continued to efficiently invest in new growth levers - technology, sales capability, brand, marketing and product, which better positions business for future Net Zero market reporting demand

Notes

1. Cash flow represents quarterly cash movement excluding net monies generated via capital raise (Q4 +$7.9m), exercise of options (Q4 nil), payments made in relation to earnout (Q4 nil), impact of one-off R&D incentives (Q4 +$0.7m) and Fx movements (Q4 +$57k)

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FY22 Q4 Platform ARR

Incremental ARR1 of $0.5m achieved via new business, however offset by churn and exchange rate impacts. ARR expected to scale in coming quarters as benefits of investment in brand, technology, sales and marketing are realised

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Platform Annual Recurring Revenue (ARR)1

$(0.2)m

$0.5m

$(0.3)m

	$11.7m		$11.7m

• New business was led by contract wins with a UK based oil and gas conglomerate deploying new EV pricing/charging product, APA Group, Harvey Norman, Fonterra, Sunrice
• Q4 annualised churn of 7.9% was broadly in line with average annualised churn from Q1 to Q3 (7.2%)
• In line with recent strategy, we are focused on new customer wins that are profitable for the platform

ARR Q3 New Business Churn

Other/FX

ARR Q4

Notes

1. Platform ARR is calculated as annualised revenue (excluding credits, adjustments) for the relevant quarterly period, excludes Rebate business and discontinued operations

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